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803 Briargreen Street Pasadena, TX 77503

4 Beds 3 Baths 1,320 sqft Built 1992

$175,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $132.58
  • 2 Days on Market
  • MLS # : 67150503
  • Updated Date : 11/07/2020 at 19:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,320 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prime Realty Group

Listing Agent's Description

Beautiful 4 bedroom 2.5 bath brick home. This home is move in ready, beautifully well kept and in excellent condition. NEVER FLOODED, kitchen granite countertops and refrigerator stays. Split floorplan, primary bedroom downstairs for privacy, his and her dual sinks. Updated flooring on stairway and all upstairs bedrooms, modern updated restroom. Modern high ceilings in living area, and large private covered patio in backyard, great for entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Pasadena

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Pasadena

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8731677

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Deepwater Elementary School Primary Regular 767 52 5
Deepwater Junior High School Middle Regular 626 46 5
Deer Park High School South Campus High Regular 4,103 258 6

Deepwater Elementary School

  • Education Level: Primary
  • # of students: 767
  • # of teachers: 52
5
GreatSchools Rating

Deepwater Junior High School

  • Education Level: Middle
  • # of students: 626
  • # of teachers: 46
5
GreatSchools Rating

Deer Park High School South Campus

  • Education Level: High
  • # of students: 4,103
  • # of teachers: 258
6
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$646
Property Tax -$424
Property Insurance -$116
Property Management Fees -$99
CASH FLOW
$245

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$175,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$25,881

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,530

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,511

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5303$1,6004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 803 Briargreen Street Pasadena, TX 2
    • 4 beds 3 baths ∙ 1,320 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,320 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.16
    •  
  • 4150 Alecia Drive Pasadena, TX 1
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1978
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.12
    •  
  • 3819 Cann Drive Pasadena, TX 3
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1993
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.21
    •  
  • 711 Bennett Drive Pasadena, TX 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1978
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.13
    •  
  • 4114 Venetian Way Pasadena, TX 5
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1972
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
PROPERTY LISTING DETAILS
Marisa Rodriguez
1.832.368.9708
Prime Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 67150503
Last Updated: 11/07/2020
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